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Selected accounts from the ledger of Masterpiece Arts for the fiscal year ended April 30, 20Y2, are as follows: Angelo Phelps, Capital Apr. 30 35,200
Selected accounts from the ledger of Masterpiece Arts for the fiscal year ended April 30, 20Y2, are as follows: Angelo Phelps, Capital Apr. 30 35,200 May 1 (20Y1) 537,100 Apr. 30 9,200 Angelo Phelps, Drawing July 31 2,300 Apr. 30 9,200 Oct. 31 2,300 Jan. 31 2,300 April 30 2,300 Required: Prepare a statement of owners equity for the year. No additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. If a net loss has been incurred or there has been a decrease in owners equity, enter that amount as a negative number using a minus sign. Labels April 30, 20Y2 For the Year Ended April 30, 20Y2 Amount Descriptions Angelo Phelps, capital, April 30, 20Y2 Angelo Phelps, capital, May 1, 20Y1 Decrease in owners equity Increase in owners equity Net income Net loss Withdrawals Prepare a statement of owners equity for the year. No additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. If a net loss has been incurred or there has been a decrease in owners equity, enter that amount as a negative number using a minus sign. Masterpiece Arts Statement of Owners Equity 1 2 3 4 5
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